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Einhorn pushed shareholders to vote down a proposal at the company's annual meeting this month that he says would prevent future preferred stock. (Image credit: Getty Images via @daylife)

Apple says a possible change to its corporate charter would not prevent it from issuing preferred shares, directly contradicting the comments made earlier today by hedge fund manager David Einhorn.

Einhorn pushed shareholders to vote down a proposal at the company's annual meeting this month that he says would prevent future preferred stock. Einhorn, the activist investor behind Greenlight Capital, has criticized Apple's capital allocation strategy and says preferred shares would be a sensible step. Apple retains a massive amount of cash—almost a third of its total market capitalization.

Apple is reviewing Einhorn's plan, and in a statement this afternoon, the company emphasized that it has already completed about a quarter of its plan to return $45 billion to shareholders.

"Apple has a cash problem. It acts like it's in a depression," Einhorn said on CNBC this morning. He likened the $430 billion company's mentality to the stinginess of his grandmother, a woman born in the Great Depression who acted so frugal that she would avoid leaving Einhorn a voicemail so she wouldn't pay for the call.

"We believe Apple must examine all of its options to unlock the growing value of its balance sheet for all shareholders," Einhorn said earlier. "Over the past several months, we have had an ongoing dialogue with Apple regarding one option to do so, namely the creation of a new security, a perpetual preferred stock that would be distributed at no cost to Apple's existing shareholders, and would provide an attractive, sustainable dividend while preserving Apple's financial resources to pursue its business strategy."

Shares of Apple this afternoon added 3.3% to $469.57.

Who is David Einhorn? The 44-year-old hedge fund manager ranks among the wealthiest in America. (FORBES last valued Einhorn's fortune at $1.1 billion.) Known for his aggressive nature—he once tried to force Microsoft to fire CEO Steve Ballmer—Einhorn made tens of millions with short sales on Lehman Bros. and Allied Capital. He's also targeted Green Mountain Coffee Roasters—for suspicious accounting—and Chipotle Mexican Grill. Oh, he also enjoys the Great American Pastime; he once thought about buying the woeful New York Mets.